Delap Wealth Advisory LLC Makes New $230,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Delap Wealth Advisory LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,129 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jump Financial LLC boosted its holdings in Robinhood Markets by 86.6% in the 4th quarter. Jump Financial LLC now owns 24,700 shares of the company’s stock worth $315,000 after buying an additional 11,462 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Robinhood Markets by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock worth $59,559,000 after acquiring an additional 672,648 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Robinhood Markets by 37.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 32,382 shares of the company’s stock worth $413,000 after purchasing an additional 8,796 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets during the 4th quarter valued at approximately $84,165,000. Finally, Commerce Bank boosted its stake in Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after purchasing an additional 917 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $22.73 on Friday. The firm has a market capitalization of $19.98 billion, a PE ratio of 151.53 and a beta of 1.82. The stock’s fifty day moving average is $20.59 and its 200 day moving average is $19.98. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the transaction, the insider now owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The disclosure for this sale can be found here. Insiders sold a total of 1,204,096 shares of company stock valued at $23,603,793 over the last 90 days. Insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HOOD shares. Bank of America lifted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Morgan Stanley lifted their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods decreased their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.10.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.